PART VII.

Miscellaneous.

23. —Except with the permission of the Minister, a person who has a right (whether present or future and whether actual or contingent) to receive any specified currency, or any payment from a person resident outside the scheduled territories, shall not do or refrain from doing, any act with intent to secure—

(a) that the receipt by him of the whole or part of the currency or payment is delayed, or

(b) that the currency or payment ceases, in whole or in part, to be receivable by him.

24. —(1) Except with the permission of the Minister, a person shall not lend any money or securities to any body corporate resident in the scheduled territories which is by any means controlled (whether directly or indirectly) by persons resident outside the scheduled territories.

(2) This section shall not apply where the lender after making such inquiries as are reasonable in the circumstances of the case does not know and has no reason to suspect that the body corporate is so controlled.

25. —(1) Any permission granted under this Act may be either general or limited to a particular transaction and either absolute or conditional and may be revoked or amended.

(2) A person who avails himself of any permission granted under this Act shall comply with any conditions attached to the permission.

(3) The grant of permissions under this Act shall be at the discretion of the Minister.

26. —(1) The Minister may give directions to persons belonging to the following classes, that is to say:—

(a) authorised dealers and authorised depositaries,

(b) persons to whom any powers of the Minister under this Act are delegated, being—

(i) in the case of any such persons, directions as respects the exercise of any functions exercisable by them by virtue of, or by virtue of anything done under, any provision of this Act, or

(ii) in the case of authorised dealers, such directions as aforesaid, or directions as to the terms on which they may buy, borrow or otherwise accept gold or foreign currency, or sell, lend or otherwise dispose of gold or foreign currency and the furnishing to the Minister of returns of transactions in gold or foreign currency and of payments made to or received from persons resident outside the scheduled territories.

(2) Any direction given under this section to a person shall be complied with by such person.

(3) Any direction given under this section may be either general or particular and may be revoked or varied by subsequent directions.

(4) Directions under this section shall be given in such manner as the Minister thinks appropriate.

(5) Notwithstanding subsection (4) of this section, a person shall not by virtue of any direction under this section, be convicted of an offence under this Act unless the direction was served on him.

27. —The Minister, if he so thinks proper, may by regulations grant exemption from compliance with any provision of this Act and the exemption may be either absolute or conditional.

28. —The Minister may, to such extent and subject to such restrictions and conditions as he may think proper, delegate or authorise the delegation of any of his powers (other than a power to make any order or regulations) to any person, or any class of persons approved by him, and references in this Act to the Minister shall be construed accordingly.

29. —(1) Any document under this Act may be served on a person—

(a) by delivering the document to such person,

(b) by sending the document by post in an envelope addressed to such person at the address at which he ordinarily resides or carries on business, or

(c) where such person is absent or abroad or his address is unknown and cannot be ascertained by reasonable inquiries—

(i) by delivering the document to an agent of the person, or

(ii) by sending the document by post in an envelope addressed to an agent of the person at the address where the agent ordinarily resides.

(2) For the purposes of subsection (1) of this section, a company registered under the Companies Acts, 1908 to 1924, shall be deemed to carry on business at its registered office and every other body corporate and every unincorporated body shall be deemed to carry on business at its principal office or place of business in the State.

30. —(1) The Minister may make regulations prescribing any matter referred to in this Act as prescribed or to be prescribed.

(2) Every regulation under this section shall be laid before each House of the Oireachtas as soon as may be after it is made, and if a resolution annulling the regulation is passed by either such House within the next subsequent twenty-one days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

31. —The Minister may by regulations appoint persons (in addition to the person specified in the First and Second Schedules) to be authorised dealers or authorised depositaries.

32. —This Act shall bind the State and shall apply to transactions by a Minister of State or other authority acting on behalf of the State.

33. —(1) The expenses incurred by the Minister in the administration of this Act shall be defrayed out of moneys provided by the Oireachtas.

(2) All moneys received by the Minister under this Act shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may specify.

34. —(1) Paragraph (c) of subsection (1) of section 2 of the Supplies and Services (Temporary Provisions) Act, 1946 (No. 22 of 1946), is hereby repealed.

(2) Any direction, permission, authorisation or exemption given in exercise of a power conferred by order under the enactment hereby repealed which could have been given under any provision of this Act, shall, if in force immediately before the commencement of that provision, have effect as if given under that provision.